GBPAUDWe expect the British pound to rise against the Australian dollar, and we target the following targets. We expect that at a liquidity area, i.e. the second target, the market will decline to correct and rise again.
Forexsignals
XAUUSDHello Traders!
What are your thoughts on GOLD ?
After several weeks of consolidation, gold has successfully broken through its previous resistance level and escaped its narrow trading range, hitting a new high. Given the recent momentum, it is expected that gold will set a new high next week after a brief correction.
A key point to watch is that gold is nearing the overbought zone, which increases the likelihood of a price reversal after reaching the new high.
Exercise caution when entering long positions, as the market may experience a correction after hitting new highs.
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EURCHF: Breakout & Confirmation 🇪🇺🇨🇭
EURCHF leaves a clear bullish clue after a recent breakout of a key intraday/daily resistance.
Retesting the broken structure, the price formed a range on a 4H time frame.
Its resistance has been broken.
Growth will continue at least to 0.9499
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XAUUSD : Gold Will Fall to $2567 ? (Read The Caption)Upon revisiting the gold chart on the 2-hour timeframe, we can see that last night, after gold surged to $2,600 and reached this key psychological level, it faced selling pressure and dropped to the important $2,550 level. If you recall, in previous analyses, we had mentioned this level as the final target for gold's corrective move. In the previous correction, gold had only managed to drop to $2,560. However, after taking out the liquidity above the previous high of $2,590 with the surge to $2,600, it finally reached this crucial $2,550 level. After hitting this level, gold made a strong recovery and surged back up to $2,595 to fill the liquidity gap caused by the drop. Currently, gold is trading around $2,586, and since it has created a new liquidity gap, I expect further correction from gold. The potential bearish targets for this correction are $2,581, $2,478, and $2,567, in that order. (This analysis will be updated).
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AUDJPYWe wait for the market to drop to correct to the area we have specified, and from there we start buying, and at the first target we set the stop loss to enter and we remain in the deal until the rest of the targets.
XAUUSD / TRADING ABPVE ATH 2,600$ - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
The asset is trading above its all-time high (ATH) price of $2,600.The price has risen by %1.82.
If the price closes below the ATH level of $2,600 on a 4-hour (4h) candle, further decline is expected, estimated at 1.90%.
As long as the price remains above $2,600, it suggests a bullish trend.
A 4h candle closing below $2,600 would indicate potential bearish movement, predicting a decline of around 1.90%.
Technical analysis :
If the price remains above $2,600 and breaks above $2,620, we could see an upward move towards $2,635.
A break below $2,600 may lead to a decline towards $2,575 and potentially $2,551, indicating a bearish trend.
UPWARD TARGET : 2,620$ , 2,635$ .
DOWNWARD TARGET : 2,575$ , 2,551$.
“Bitcoin is rising."Cryptocurrency markets are going through a dynamic period with significant developments. In Germany, 47 cryptocurrency exchanges were shut down by the Federal Criminal Police Office and the Internet Crime Complaint Center as part of efforts to combat money laundering activities. However, following the Fed's decision to cut interest rates by 50 basis points, there is a decline in dollar-denominated assets. This situation is supporting upward movements in Bitcoin.
From a technical perspective, if it surpasses the 63,300 resistance level, the 65,000 and then 68,500 resistance levels could be tested. On the downside, if Bitcoin breaks below the 60,000 level, a further decline toward the 57,330 and then 54,000 support levels could occur.
“USDZAR on a Downward Trend”The South African Reserve Bank has reduced the policy interest rate to 8.00%. Following this move, the reversals at the 17.40 level in the USDZAR pair have drawn attention. The Fed had unexpectedly cut rates by 50 basis points at its September meeting. This situation has led to significant losses in dollar assets, while we can observe that any increases in the USDZAR pair remain limited.
From a technical perspective, if the exchange rate surpasses the 17.70 level, rises may initially extend to 17.95 and then to the 18.20 resistance level. On the downside, if the 17.40 level is breached, we could see a decline to 17.15 and then to the 16.90 support level.
But GBPUSD Macro chart ( monthly time frame)Strong buy Signal for GBPUSD on monthly time frame.
Entry : 1.329
Take Profit ; 1.400
Stop loss : 1.295
Buy Signal on macro chart can also be traded on 4H time frame by using MACD (12,26,9) by buying on each buy Signal with proper money management as per your account size. For 100 USD account only 0.01 lot size is recommendable. Similarly for 500 USD account size 0.05 lot size can be used.
Take trade on each MACD bullish cross over on 4H time frame with SL & TP same as mentioned above for monthly chart
Enjoy profit on huge trade signal
Thanks!
DXY hit the 1W MA200 for the 1st time in 8 months! Will it hold?The U.S. Dollar index (DXY) following the Fed's -0.50% Rate Cut, hit on Wednesday its 1W MA200 (orange trend-line) for the first time in 8 months (since the week of January 10 2024). This is obviously the strongest Support on a long-term basis and technically should attract the first wave of buying pressure.
However, the multi-year pattern, being a Channel Up, suggests that given some more weeks it should break and go for a Higher Low (blue Arc). As you can see on this pattern, every time the 1W MA200 was tested during a Bearish Leg, it broke.
The last two Bearish Legs initially made a dead-cat-bounce and then priced the Low just above the 1.236 Fibonacci extension. The 1W RSI in particular provides very useful insight on this, as on the first oversold (below 30.00) Low it makes the bounce and then on the second RSI low, which is a Higher Low i.e. a Bullish Divergence, the price bottoms and rebounds long-term.
As a result, with the 1W RSI bouncing on the 30.00 oversold barrier, we expect the price to rebound for a few weeks and then resume the downtrend towards the 1.236 and the bottom of the multi-year Channel Up. Our Target is 97.000.
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“Can USD/JPY Surpass the 144.0 Level?”The Bank of Japan (BoJ) kept its policy interest rate unchanged, holding it steady at 0.25%. The bank noted that Japan's economic recovery is continuing, and inflationary pressures have eased due to a decline in import prices. According to data released today, Japan's Consumer Price Index (CPI) for August increased by 3% year-over-year, in line with expectations. As a result, the USD/JPY pair has gained momentum, rising from the 140.85 level.
From a technical perspective, if the 144.10 level is surpassed, the pair may test the 147.30 resistance first, followed by 149.55. On the downside, if it falls below the 140.85 support level, a drop toward 138.0 and then 135.15 could occur.
GOLD Breaks Records,Overbought Signals Hint at Scalping ReversalGold surged to a new all-time high near $2,610 on Friday as expectations grew that global central banks will join the Federal Reserve (Fed) in easing monetary policy and cutting interest rates. Investors are increasingly turning to gold as a safe-haven asset, driven by the prospect of lower interest rates, which diminish the opportunity cost of holding non-interest-paying assets like gold. This surge in gold’s value is largely attributed to the growing consensus that central banks worldwide will follow the Fed's lead in slashing rates to stimulate economic growth.
Lower interest rates typically favor gold, as they make alternative interest-bearing investments less attractive. With fewer benefits from higher-yielding assets, gold becomes a more appealing choice for investors looking to protect their wealth in an environment of falling rates. However, as gold reaches new highs, there’s a caveat: when access to gold becomes easier, it reduces the perceived value of holding it, as the scarcity that once made the asset so desirable begins to wane.
Amid this record-breaking rally, we’ve noticed overbought conditions in the gold market, signaling a potential opportunity for scalpers. A short-term bearish setup is forming as gold nears a technical exhaustion point. The sharp rise in price has pushed gold into overbought territory, which often precedes a pullback or reversal. This presents a lucrative opportunity for traders looking to capitalize on a quick price correction.
From a technical standpoint, gold is showing signs of a potential reversal, as momentum indicators flash warning signals of an impending price downturn. Scalpers and short-term traders may find an attractive entry point for a bearish trade, particularly if gold fails to maintain its new record high and starts retreating toward key support levels.
While the long-term outlook for gold remains bullish due to global monetary easing, in the short term, market conditions may favor a pullback. Traders looking for a short-term bearish setup should monitor key resistance levels and momentum indicators for confirmation of a reversal. With gold hovering near its peak, the potential for a temporary correction is becoming increasingly likely, making it a prime target for short-term profit opportunities.
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“The pound gained strength”The Bank of England (BoE) maintained its policy interest rate at 5.00%, with no changes. BoE Governor Andrew Bailey stated that since they lowered the policy rate in August, inflationary pressures have continued to ease. Bailey also emphasized the importance of avoiding rate cuts that are too quick or too large. Following this development, the GBP/USD pair rose above the 1.33 level.
From a technical perspective, if the 1.3355 level is permanently surpassed, the rise could accelerate toward 1.3430, followed by the 1.35 resistance level. On the downside, if prices fall below the 1.3270 level, the decline could extend first to 1.3150 and then further to the 1.3030 support level.
NZD/USD Eyes Reversal After Three-Day Rally,Supply Zone in FocusThe NZD/USD pair continues its upward momentum for the third consecutive day, trading around the 0.6250 mark during the early European hours on Friday. This resilience comes despite concerning economic data from New Zealand, which showed the economy contracted by 0.2% quarter-on-quarter in the second quarter of 2024, bringing the country perilously close to a recession. While this decline was less severe than the anticipated 0.4% contraction, it still underscores the economic challenges the nation is facing. On a year-on-year basis, the economy shrank by 0.5%, in line with market expectations.
The weak GDP figures have solidified market expectations of another 25 basis point rate cut by the Reserve Bank of New Zealand (RBNZ) in October, as the central bank attempts to stabilize the slowing economy. However, despite these looming concerns, the NZD/USD pair has managed to maintain its bullish trajectory, likely supported by broad-based U.S. dollar softness and improving risk sentiment in global markets.
From a technical perspective, the NZD/USD is currently trading within our identified Supply area. This zone has historically acted as a strong resistance level, and we are closely monitoring the price action for signs of a potential reversal. With the pair approaching key technical levels, a pullback could be imminent if bearish signals start to emerge. The 0.6250 region remains crucial, and a sustained move above this level would challenge our forecast for a reversal, while a rejection here could validate a short position.
Traders should also keep an eye on upcoming economic releases and central bank decisions, which could further impact the outlook for the NZD/USD pair in the near term. As the RBNZ rate cut approaches, market volatility may increase, providing more clarity on the direction of the pair.
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Trading Signals September 20Fundamental Analysis
Bullish gold extended gains after recording losses on Wednesday following the Fed decision. Officials sided with the larger of the two cuts expected by Wall Street, justifying their decision by pointing to inflation progressing steadily toward the Fed’s 2% target. Fed Chairman Jerome Powell stressed that the Fed could maintain labor strength by adjusting policy.
Meanwhile, US employment data is in focus after Powell’s speech at Jackson Hole, in which he shifted focus to achieving the maximum employment mandate. On Thursday, the US Department of Labor revealed that the number of people filing for unemployment benefits was lower than expected, indicating strength in the labor market.
Meanwhile, US Treasury yields followed in Gold’s footsteps, with the benchmark 10-year Treasury yielding 3.74%, up three and a half basis points. However, this did not support the greenback, according to the US Dollar Index (DXY), which fell 0.31% to 100.62.
Technical Analysis
The price zone to watch in today's European session is 2610 new ATH peak. If the price fails to break this zone in the middle of the European session, Gold can be sold to the breakout zone when the European session is 2600-2595. When the US session fails to break the 2595 zone, BUY again and continue to hold long-term combined with the old BUY signals in the 254x 247x zone of the previous days, we have a long-term BUY signal up to 27xx
Trading signal
Breakout upper boundary: 2593 - 2600 -2605 - 2615
Upper resistance: 2593 - 2600 -2605 - 2615
Breakout lower boundary: 2580 - 2572 - 2565 - 2557 - 2550
Support: 2580 - 2572 - 2565 - 2557 - 2550
SELL 2613 - 2615. Stoploss 2619
BUY 2580 - 2578. Stoploss 2574
BUY 2567 - 2565. Stoploss 2561
NZDCHF: Buying After Breakout 🇳🇿🇨🇭
NZDCHF may continue growing after a confirmed violation
of an intraday/daily horizontal resistance.
As a confirmation, the price also broke a resistance line of a bullish
flag pattern on an hourly time frame after a test of a broken structure.
Goals: 0.530 / 0.531
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USDNOK Very strong buy signal medium-term.The USDNOK has been consistently giving us excellent signals on this 2-year pattern with the last one (July 10, see chart below) being a buy that hit the 11.0000 Target:
This time the pair is again inside the 2-year Higher Lows Zone, while holding Support 1. The previous High was rejected on Resistance 1, so the Triangle may be transitioning into a Rectangle medium-term.
In any case, this low price is a buy opportunity with our Target being slightly below the Lower Highs trend-line at 10.9500.
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AUS200 Technical AnalysisWhen the AUS200 daily chart is examined; It is observed that the price movements continue in an upward trend. It is evaluated that the index price can target the 8532 level in price movements above the 8257 level, but in price movements below the 8257 level, it is evaluated that it can break the 8111 level and retreat to the 7906 level.
CORN Can Go for Cup Target.When the CORN 4-hour chart is examined; It is observed that the price movements continue within the Cup formation formation. As long as the CORN price does not break below the level of 395.6, it is evaluated that in price movements above the level of 406.8, it can cross the level of 428.8 and target the level of 449.1.
USDJPYUSDJPY If the price can stay above the support level at 139.87, it is expected that the price will have a chance to test the 143.70 and 144.83 levels. Consider buying in the red zone.
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XAUUSDXAUUSD The main trend is up. Now the price is near the 2600 resistance zone. If the price cannot break through the 2600 level, it is expected that there is a chance that the price will go down in the short term. Consider selling the red zone.
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Could the Aussie drop from here?The price is reacting off the resistance level which is a pullback resistance that aligns with the 138.2% Fibonacci extension and could drop from this level to our take profit.
Entry: 0.6824
Why we like it:
There is a pullback resistance level that lines up with the 138.2% Fibonacci extension.
Stop loss: 0.6898
Why we like it:
There is a resistance level at the 138.2% Fibonacci extension.
Take profit: 0.6749
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Falling towards 61.8% Fibonacci support?USD/JPY is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 141.30
Why we like it:
There is a pullback support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 139.61
Why we like it:
There is a pullback support level.
Take profit: 143.67
Why we like it:
There is an overlap resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
